Tuesday, January 06, 2009


Empty homes create new challenges: "A number of challenges face neighborhoods with the higher concentrations of foreclosures. Homeowner associations could find themselves having to raise fees as they struggle to stay on top of maintenance of common areas. Traditional neighborhoods face similar problems as they struggle to stay attractive to potential buyers without a mechanism in place to keep properties well maintained."
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The Arizona Republic study cited in the article says the "traditional neighborhoods" were hit harder by foreclosures in Chandler than the newer ones, where the CIDs were. But I would point out that "traditional neighborhoods" are full of individual property owners who don't get hit with a a special assessment followed by a lien. In other words, they are not chained to each other like galley slaves who have to go down with the ship. Remember that scene from Ben Hur?

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